Financial Performance - Total revenue for the three months ended March 31, 2022, was RMB 17,104,882, representing a 43.5% increase from RMB 11,890,034 in the same period of 2021[5] - Profit before tax for the period was RMB 6,352,536, a 65.5% increase compared to RMB 3,842,163 in the same quarter of 2021[5] - Net profit for the period was RMB 4,671,053, which is a 93.5% increase from RMB 2,412,809 year-on-year[5] - Basic earnings per share for the period was RMB 0.40, compared to RMB 0.20 in the same period last year, reflecting a 100% increase[5] - The group recorded revenue of approximately RMB 17.1 million, an increase of about 43.9% compared to RMB 11.9 million for the same period last year, primarily driven by growth in financing leasing consulting services and interest income from sale-leaseback arrangements[27] - The group’s net profit after tax increased to approximately RMB 4.7 million from RMB 2.4 million in the same period last year[27] Income Sources - Interest income from sale-leaseback arrangements increased to RMB 6,568,968, up 35.4% from RMB 4,850,824 in the previous year[5] - Financing lease income decreased to RMB 1,691,348, down 44.9% from RMB 3,067,915 year-on-year[5] - The company’s total revenue from other income was RMB 623,735 in Q1 2022, compared to RMB 530,695 in Q1 2021, an increase of 17.5%[16] - Other income rose to approximately RMB 0.6 million, a 17.5% increase from RMB 0.5 million in the previous year, mainly due to increased license leasing income and higher interest income from bank balances[28] Costs and Expenses - Employee costs decreased to RMB 2,366,139, down 43.5% from RMB 4,189,969 in the previous year[5] - Total financing costs rose to RMB 4,340,271 in Q1 2022, up 76.2% from RMB 2,459,991 in Q1 2021[18] - The group’s other operating expenses decreased by approximately 22.1% to RMB 2.4 million from RMB 3.0 million, mainly due to reduced expenses related to financing leasing consulting services[32] Asset Quality and Provisions - The company reported a loss allowance for financing lease receivables and sale-leaseback arrangements of RMB 2,200,354, compared to a gain of RMB 1,019,797 in the previous year[5] - The group recognized a loss provision for lease receivables of approximately RMB 2.2 million, up from a reversal of RMB 1.0 million in the same period last year, due to an increase in lease receivables and stricter risk control measures[33] - The overall asset quality of leasing receivables is expected to remain stable despite increased credit risk due to the COVID-19 situation[24] Shareholder Information - As of March 31, 2022, the major shareholder, Mr. Zhou Dazhi, holds 600,000,000 shares, representing approximately 62.5% of the company's issued share capital[42] - View Art Investment Limited, wholly owned by Mr. Zhou Dazhi, also holds 600,000,000 shares, accounting for 62.5% of the issued share capital[45] Corporate Governance - The audit committee consists of three independent non-executive directors, ensuring oversight of the company's accounting principles and policies[48] - The company has complied with the GEM Listing Rules and has confirmed adherence to the securities trading code during the reporting period[41] - The company has maintained compliance with the relevant securities and futures regulations regarding the interests of directors and key executives[42] Future Plans and Business Diversification - The company continues to focus on expanding its financing lease and consulting services in the Chinese market[8] - The group is considering establishing a new subsidiary to diversify its business into wine trading and the restaurant industry in China, leveraging the chairman's six years of experience in this sector[25] Dividend Policy - The company has not declared or paid any dividends during the reporting period[23] - The board did not recommend any dividend payment for the reporting period, consistent with the previous year[36]
METROPOLIS CAP(08621) - 2022 Q1 - 季度财报